S
Loans
Short-term Loan
A loan you pay back in weeks or months, not years. Usually has hectic interest — sometimes 30%+ — but it's fast and meant to cover emergency stuff. Payday loans fall here.
Usage Examples
"Nomsa's car broke down. She got a R4,000 short-term loan from Wonga, repayable over 4 weeks. High interest but she needed the cash for the repairs just now."
"Sipho took a short-term loan from African Bank for R2,500 to cover a family emergency. Over 2 months. Pricey but he knew he could pay it back from his Shoprite wages."
"Zanele's taxi broke down on the Durban-Joburg route. She borrowed R5,000 short-term from a formal lender to get it fixed. 3-month term. Back on the road, making money again."